Hiranandani Group to invest Rs 10,000 crore for 100-acre industrial, logistics and data centre park
The first phase of the industrial and logistics park will be up and running by June 2022 and the first data centre building will be ready by June 2023, the company said
The Mumbai-based diversified conglomerate, Hiranandani Group, has entered into a Memorandum of Understanding in West Bengal to set up an industrial, logistics and hyper-scale data centre park in the region. The combined investment by the group and their customers is estimated to cross Rs 10,000 crore.
The group has signed an MoU with Hindustan Motors to acquire a 100-acre land at Uttarpara, Kolkata, to set up an integrated logistics and hyper-scale data centre park by Hiranandani Group companies GreenBase and Yotta respectively, the company said in a statement.
The combined investment by the group and their customers is estimated to cross Rs 10,000 crore, the company said in a statement.
The GreenBase will deliver 3 million sq feet of industrial and warehousing space along with essential utilities and support infrastructure built to international standards.
Yotta, Hiranandani’s hyper-scale data centre division, will see a development of 6 hyperconnected data centre buildings bringing in 250MW of cutting edge data centre capacity over the next several years to the state.
The first phase of the industrial and logistics park will be up and running by June 2022 and the first data centre building will be ready by June 2023, the company said.
“Kicking off this project would not have been possible without the tremendous support of the Government of West Bengal under the leadership of chief minister Mamta Banerjee. West Bengal is the gateway to the east. It is an ideal hub for logistics and industrial development with excellent road, rail and riverine connectivity,” said Darshan Hiranandani, Group CEO, Hiranandani Group.
“Simultaneously, the data centre business will benefit from the digitization revolution, the upcoming Silicon Valley at New Town at Rajarhat and excellent fibre connectivity on land and the new submarine cable coming up at Tajpur. By setting up a data centre park in Kolkata, we will not only serve the customers of the state but the entire eastern region including neighbouring countries,” he said.
As India aims to be a $5 trillion economy by 2025, the logistic sector has an important role to play in connecting producers with consumers.
Greenbase Industrial and Logistics Park will not just help manufacturing and warehousing units build last-mile connectivity, it will also give a huge boost to the development of the logistics sector and create employment opportunities for the region.
A notable feature of this logistics park will be its well-designed infrastructure to support best in class security and facilitate optimisation of logistics and turnaround time by enabling Artificial Intelligence (AI) in customer processes, which is the new norm post the COVID pandemic.
In 2020, Yotta inaugurated its Asia’s largest and World’s second-largest Uptime Institute Tier IV certified data centre in Navi Mumbai. It most recently announced its Greater Noida data centre park and Chennai data centre park.
Greenbase has a pan India presence providing industrial, logistics and warehousing solutions to clients.
A Joint Venture (JV) of the Hiranandani Group with global private equity firm Blackstone, Greenbase is developing industrial and logistics parks across Mumbai MMR region, Pune, Nashik, Chennai and Bengaluru and has plans to deliver 15 million sqft of space across the country in the next five years, having an investment outlay of $500 million.
Yotta Infrastructure is a new-age managed data centre provider.
It should be remembered that the massive digital push initiated by the COVID-19 pandemic coupled with the current government’s data localisation policy has paved the way for construction of hyper-scale data centres across the country.
Additionally, work-from-home (WFH) compulsions, online education, video-based medical consultations, a huge increase in e-commerce and business-related video conferencing and webinars have also enhanced the demand for data centres.
Given shifts in the economy, one would continue to see data consumption increase manifold for the foreseeable future, real estate experts said.
A report has said that an additional 9.3 million sq ft of real estate space is expected to be developed by 2025 for the rapidly growing data centre industry at an investment of about Rs 7,700 crore.
The data centre industry is expected to add 703 MW capacity by the end of 2025, translating into an opportunity of 9.3 million sq ft of real estate development, a report by JLL had said.